##### Finance parliamentary: the need for legislation of a law to protect deposits at banks

19-05-2013 12:21 PM


Baghdad (news) .. Deputy Chairman of the Finance Committee MP / coalition of Kurdish blocs / Ahmed iceberg God, the importance of the legislation of a special law to protect deposits in Iraqi banks for the purpose of encouraging people to save their money in banks.

Faizullah said (of the Agency news): The most countries of the world are paying much attention to how to bring financial deposits of local banks in terms of issuing laws and regulations protect and determine the percentage of their profits.

He added: Iraqi banks need to be law legislation to protect deposits to enhance the confidence of citizens and cause them to bid farewell to their money in banks and civil government, and thus enhance the possibility of banks and the financial contribution to the development projects of the country.

It is noted that the Association of private banks confirmed that the proportion of deposits in government banks ranging from 65 to 68 trillion dinars, of which not to exceed 22 trillion dinars deposits of private banks.

It consists of the banking system in Iraq from forty-three banks as well as the Central Bank and distributed by ownership between (7) state banks and (30) Bank of my family, including (7) Islamic banks in addition to (6) of foreign banks.


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